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Tuesday, November 03, 2009
Merck, Schering-Plough To Complete Merger Tuesday
By Val Brickates Kennedy
MarketWatch Pulse
BOSTON -- Merck & Co. and Schering-Plough Corp. said they will complete their $41 billion merger after the market's close on Tuesday. As a result, Schering-Plough's stock will cease trading later Tuesday. The combined company will be known as Merck, with shares trading under the symbol MRK on the New York Stock Exchange. Under the terms of the deal, Schering-Plough shareholders will receive approximately 0.58 shares of the newly-combined company's stock and $10.50 in cash for each Schering-Plough share. Each Merck share will automatically convert to one share of the new company's stock.
Copyright © 2009 MarketWatch, Inc.
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